Daily Mail & General Trust, the media group that runs one of the UK's few remaining final-salary pension plans that is still available to new joiners, has hired a new head of investments for the £1.6bn (€1.8bn) funds. Mike Weston, formerly of fund manager Hermes, joined at the start of this week.

Weston's brief is to oversee DMGT's investment strategy and fund managers, which include Legal & General Investment Management, AllianceBernstein, Marathon Asset Management and Aberdeen Asset Management. DMGT is the publisher of the UK's Daily Mail newspaper, together with the London paper Metro and over 100 local papers.